Global Bathroom Vanities Market Forecast to 2028 - COVID-19 Impact and Analysis
Mar 21, 2022
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The bathroom vanities market is projected to reach US$ 46,038.15 million by 2028 from US$ 36,047.21 million in 2021; it is expected to grow at a CAGR of 3.6% from 2021 to 2028. Bathroom vanities are generally of two types - a freestanding and a built-in. The freestanding ones are primarily used for small spaces. The built-in vanities provide more countertop space and are used for large spaces. The bathroom vanities combine a sink, countertop, and built -in shelves. Bathroom vanities can also be considered as a part the bathroom cabinetry which are used to hold the sink and hide the plumbing lines associated with it, as well as offer storage options. The countertops of the bathroom vanities are available with a lot of material options which include wood, stone, cement, etc. The bathroom vanities are composed of materials which have moisture resistant properties owing to their application in the bathroom. The growth in the residential construction is expected to fuel the demand for bathroom vanities across the globe. The increasing rate of housing construction and their completion in the developed world is one of the major driving factors for the market growth. Furthermore, rapid urbanization in the developing regions has led to rise in residential and commercial building construction activities. Moreover, increase in remodeling and renovation activities has also provided impetus to the growth of the bathroom vanities market. Changing lifestyles, increasing expenditure power, and growing trends of smart homes with functional bathrooms is expected to drive the demand for bathroom vanities during the forecast period. These vanities are also used in commercial spaces where more than one sink is required in a countertop. These find their application in commercial spaces, including IT companies, corporate offices, and R&D centers. The growing usage of functional bathroom amenities in offices, schools, and shops is creating a favorable impact on the bathroom vanities market. The market has witnessed increasing investment by the manufacturers in the product development of bathroom vanities, which is expected to boost the market growth during the forecast period. Manufacturers are offering vanities with features such as chrome lights, aroma diffuser machines, inbuilt sound, LED interiors, and microbial protection system. Furthermore, the growth of the online distribution channel for bathroom vanities is also driving the market growth. Based on material, the bathroom vanities market is segmented into stone, ceramic, glass, wood, and metal. Various stones, such as natural stone, granite, basalt, slate, and quartzite, are used in the manufacturing of these products. The glass used in the bathroom vanities products are tempered glass, frosted glass, laminated glass, and toughened glass. The wood commonly used for bathroom vanities are solid wood, particle board, MDF (medium density fiberboard), and plywood. Metals, such as stainless steel, cast-iron, copper, and aluminum, are the most commonly used materials in bathroom vanities. The wood segment held the largest share of the bathroom vanities market in 2020. The growth in the wood material segment is primarily due to the degree of customization and aesthetic view provided by wood. Growing demand for bathroom vanities manufactured by utilizing engineered materials such as recycled glass and quartz is another factor expected to propel the market's growth. Europe held the largest revenue share of the global bathroom vanities market in 2020. The market in Europe is mainly driven by the increasing construction activities in the region. There is high use of bathroom vanities in the residential sector. There is also a growing inclination toward functional and aesthetically pleasing bathroom amenities among the consumers in the region. All these factors are creating the demand for bathroom vanities in the region. The presence of key players of the bathroom vanities market in Europe and the introduction of several product lines has also provided impetus to the growth of the market. The key players operating in the global bathroom vanities market include Avanity Corporation; Bellaterra Home, LLC. ; Caesarstone. ; Foremost Groups, Inc.; Kohler Co.; MasterBrand Cabinets Inc; Roca Sanitario S.A; Wilsonart LLC. ; Dupont Plumbing Supplies; and Inter IKEA Systems B.V.
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Highlights key business priorities in order to assist companies to realign their business strategies. The key findings and recommendations highlight crucial progressive industry trends in the global bathroom vanities market, thereby allowing players to develop effective long-term strategies. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets. Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals. Key Topics Covered: